cibtcorp.com
Not a cram school but certainly well connected in China and in partnership with ITT Education Services..ESI
sleeper of the year CPT.V
CIBT to Launch Information Technology Programs in China
CDNX Symbol: CPT
VANCOUVER, March 25 /CNW/ - CIBT Canadian Institute of Business & Technology Corp. ("CIBT"), a subsidiary of Capital Alliance Group Inc. (CDNX:CPT - news) and a prominent business school providing corporate training and academic degree programs in Beijing, China, announces its plans to offer information technology ("IT") programs in China beginning September 2002. In response to the rapidly growing demand in China for IT training solutions, CIBT will offer multiple certificate and diploma programs in technology design, software development and e-commerce programming tailored to the needs of the workforce upgrading IT skills and individual students competing for jobs in China's burgeoning IT sector.
According to senior Chinese government officials and industry analysts, strong domestic demand and an active telecommunications market will continue to boost China's IT market this year. China's Ministry of Information Industry projects the output of the information sector will reach US$180 billion in 2002, representing a year-on-year growth rate of 20 percent. While the Chinese market requires about 400,000 software professionals annually, domestic colleges and universities currently produce only 50,000 IT graduates each year.
"Seven years ago CIBT entered the Chinese market with a goal of becoming the leading provider of advanced education in Beijing," said CIBT president and CEO Toby Chu. "Today, CIBT is one of the largest and most recognized Sino- foreign MBA business schools in Beijing. Based on accelerating IT investment in China and extremely favorable economic projections by analysts and recognized organizations such as the OECD and the IMF, we are convinced that there is tremendous demand for technology programs that will increase the size of the IT talent pool in China."
Using courses from the U.S.-based ITT Technical Institutes, under the recently announced licensing agreement, CIBT is positioned to deliver high quality IT programs priced competitively for the Chinese market. Unlike programs at Chinese state-owned institutes, CIBT's technology programs include courses developed with the direct input of American industry representatives, making the programs both current and market-driven. CIBT also plans to integrate English language training in the IT diploma program, providing graduates with English language proficiency required by most foreign companies operating in China. Upon acceptance by the Beijing Municipal Government, it is anticipated that CIBT's IT diploma program will be the first Sino-foreign program of its kind officially accredited and recognized by the Beijing Municipal Education Commission, providing CIBT with a competitive advantage over other private IT training companies.
"Given that China's IT-based revenue may increase to US$242 billion in the coming four years, according to China's Ministry of Information Industry, we will be well positioned to expand our programs to other areas of China, including Shanghai, Shandong, Henan and Shanxi, which together comprise 233 million people, as compared to the population of 13 million people in Beijing," added Chu. "To remove geographic barriers, we are also assessing various e-learning platforms that allow for the expansion of both online and video conference delivery of CIBT programs outside of Beijing."
About ITT
ITT Educational Services, Inc. (NYSE:ESI - news) is a U.S.-based leading provider of technology-oriented postsecondary degree programs. Currently, ESI operates 70 ITT Technical Institutes in 28 states, which predominantly provide career-focused degree programs of study in fields of technology to more than 31,000 students. For more information, visit the ITT website at www.ittesi.com or the ITT Technical Institute website at www.itt-tech.edu.
About CIBT
Formed in 1994, CIBT has established itself as a prestigious institution of higher learning. Through its subsidiary, CIBT School of Business, comprising three campuses in Beijing, China, CIBT Canadian Institute of Business and Technology Corp. delivers foreign academic and career training programs to thousands of students and corporations in China. Rated as one of the top ten foreign-owned MBA providers in China, CIBT is among the first institutions in China to receive official approval from the Academic Degrees Committee of the State Council to award foreign Master of Business Administration degrees. CIBT's Chinese joint venture partner, Beijing Polytechnic University, is a distinguished member of China's Project 211, a project representing China's top 100 institutions of higher education chosen to play a leading role in training China's high-level manpower for the 21st century. Through agreements with international universities in Australia, Canada, the UK, Switzerland and Thailand, CIBT provides Chinese students and business executives the opportunity to study abroad. Major sponsoring corporations of CIBT's training programs include KPMG, Bank of China International and NASDAQ International. For more information, visit the CIBT websites at www.CIBTCorp.com or www.cibt.edu.
On Behalf of the Boards of Directors of Capital Alliance Group Inc.
& CIBT Canadian Institute of Business & Technology Corp.
"TOBY CHU"
Toby Chu
President & C.E.O. |
